Twitter Breaks From High-Tech Pack And Says It Will Trade On NYSE

The decision, disclosed in an SEC filing, is a big victory for the New York Stock Exchange — and a disappointment for NASDAQ, which came under fire for technical problems last year when Facebook went public. Most major tech companies including Google and Yahoo are on NASDAQ. Twitter will trade on the NYSE under the symbol “TWTR.” It also updated some of its financial and usage info: The company had 232M monthly active users in the quarter that ended in September, up from 218M in the three months that ended in June. And sales appear to be growing nicely. Revenues in Q3 were up 104.8% compared with the period last year to $168.6M, mostly due to a 123.5% increase in ad revenue to $153.4M. The company’s net loss increased 199.2% to $64.6M. Twitter says that after it goes public it will disclose financial information to the public via tweets as well as through conventional SEC filings, press releases, and webcasts. Early this month Twitter made its initial filing with the SEC outlining plans to go public.

2 Comments

David • on Oct 15, 2013 3:47 pm

The company’s net loss increased 199.2% to $64.6M.

Tell me again, someone, how the ‘ad revenue’ business model that has never worked on a web site will work on Twitter? This company doubled it’s revenue and almost tripled its losses…profits won’t come for this company, there’s no profitability model to be had

Q • on Oct 15, 2013 3:47 pm

All good points. Meanwhile, snub the NASDAQ? Not a good way to align with the industry…